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FTX CEO Sam Bankman-Fried now single largest shareholder of Voyager Digital

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On June 22, Voyager issued a press release announcing a $200 million loan and 15,000 Bitcoin from Alameda Ventures. On June 17, he filed an “early warning” that Sam Bankman-Fried had personally purchased 14,957,265 shares.

Sam Bankman-Fried owns 11% of Voyager.

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The report continued

“Following the acquisition of the Acquired Shares, the Acquirer, together with its affiliate, owns a total of 22,681,260 Shares, representing approximately 11.56% of the shares outstanding.”

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As a result of the purchase, combined with its “affiliate” ownership through Alameda Ventures, SBF became the largest shareholder in Voyager Digital. According to Yahoo Finance, the next largest institutional holder is Banc Funds Company with 417,315 shares (0.21%), while the largest mutual fund is Amplify Transformational Data Sharing ETF with 2,846,322 shares (1.45%).

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The total number of institutional shares is only 8.21% of the total outstanding, which means that the SBF owns more shares than all other institutions combined. There are currently 60 million shares registered in free float, of which 195 million are outstanding. With 22.6 million shares, SBF and Alameda Ventures now own more than one-third of the current number of shares.

Other crypto investments SBF

SBF already owns 7.8% Robinhood, which trades traditional stocks and cryptocurrencies. FTX recently issued a $250 million loan to BlockFi, a cryptocurrency wallet and lending platform. BlockFi is currently a private company, so only shareholders with more than 10% stake should be reported in SEC filings. Therefore, it is not known if the SBF received capital in exchange for this arrangement. Another SEC document shows that SBF owns 8.4% Bitwise Crypto Index Fund, an index of the top 10 cryptocurrencies.

It appears that SBF is looking to acquire stakes in several other crypto exchanges. Alameda Ventures and SBF are listed as “insiders” on Voyager, which Investopedia defines as

“someone who either has access to valuable non-public information about a corporation or owns shares of more than 10% of the firm’s equity.”

Previous allegations of manipulation

Given SBF’s role as CEO of FTX and its significant stake in Robinhood, there could be concerns about non-public information available to it. He has a history of being accused of bitcoin and other manipulations with cryptocurrency. It is perfectly legal for the SBF to own shares in competitor exchanges, since the definition of insider trading is “the illegal use of non-public material information for profit.” There is no evidence that the SBF violated any laws in buying shares in exchange for offering financial lines to struggling crypto companies.





Credit : cryptoslate.com

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